Stephen Lloyd, one of the world’s foremost experts in Islamic numismatics, has joined Classical Numismatic Group LLC and will spearhead a new series of dedicated Islamic auctions for the firm, according to Michael Gasvoda, CNG’s Managing Director.
“We are extremely excited to have Steve join us at CNG,” Gasvoda said. “Our firm has had a long track record of selling important Islamic coins, but having Steve on board takes that effort to another level completely. His expertise in this field is recognized throughout the world. He is a very welcome addition to our extensive numismatic team.”
Lloyd, whose 25-year career in the field has seen some of the most important coins in the Islamic series pass through his hands, will be working out of CNG’s London offices, starting on 1st February 2022. CNG also has offices in Lancaster, PA, and has been one of the leading firms in ancient, world and British coins since its foundation in 1975.
Lloyd joined the Coin & Medal Department of Sotheby’s in 1995, working in both London and New York. Starting out as a cataloguer of ancient coins, he soon began to develop specialist expertise in coins of the Islamic world, which were then attracting strong interest from buyers in the Gulf Region. After Sotheby’s closed its numismatic department in 2001, he moved over to Baldwin’s, where he reintroduced regular fixed price lists of Islamic coins, overhauled the company’s retail stock, and prepared the catalogues for the company’s first Islamic coin auctions held in London.
Since mid-2002, Lloyd has been at Morton & Eden, the successor to Sotheby’s Coin & Medal Department. Islamic coins were included in Morton & Eden’s very first auction catalogue, and over the years Steve worked to develop the company’s expertise and presence in this exciting and dynamic area of the market. In addition to building the firm’s auctions, he also advised collectors, arranged private sales and helped educate the collecting public about the importance of Islamic coinage, something he plans to continue at CNG. He has also authored a number of articles on Islamic numismatics.
Lloyd’s proudest achievement was his April 2011 “Important Coins of the Islamic World” auction, which set a standard for spectacular results. All 81 lots in this sale sold for a total in excess of £6.5 million ($8.6 million), with the famous Umayyad dinar from the “Mine of the Commander of the Faithful in the Hijaz” setting a record price of £3.72 million ($6,026,400 exchange rate on day of sale).
Over the past ten years some £20 million (26.5 million) of Islamic coins have crossed the block in these auctions. A second Hijaz dinar, sold in October 2019, achieved exactly the same remarkable price as the 2011 example.
CNG LLC will hold its first dedicated Islamic auction under Lloyd’s supervision in May of 2022, said Gasvoda. “We are dedicated to supporting Steve’s efforts to combine his exceptional expertise and experience in Islamic coinage with CNG’s prowess in bringing outstanding coins to market,” he noted.
Gasvoda added that CNG will be offering several highly important Islamic coins in its Triton XXV auction, 11th-12th January 2022, in conjunction with the New York International Numismatic Convention, including lot 1115, an iconic Umayyad gold dinar of AH 77 (AD 696/7), the first purely Islamic gold coin ever issued.
For further information about the auction house, visit the website of CNG.